WHY YOU SHOULD PROMOTE FROM

WITHIN

Tips, suggestions, and inspiration from GennGlobal

INTRODUCTION

Should you hire from within or find outside talent to

fill vacant positions?

This is a question many hiring managers struggle

with. Which is the most cost effective? Which will

provide better results? What to do?!

Both are valid options, but we believe that

promoting from within is the better choice,

whenever it is reasonable to do so.

Next, we will discuss why promoting from within

your company is a good idea in the long-term.

SAVE MONEY AND TIME

First, you will save money by not having to invest in the hiring process to find new talent.

To successfully hire a client from outside your business’s walls, you’ll have to pump money and employee time into creating a job posting, advertising the vacancy, reviewing job applications, and performing rounds of interviews. All the while, your efficiency is hurt by a gap in your team.

However, if you hire from within your company, this process is less painful because you already know your employees, and won’t have to hunt for anyone externally.

SAVE MONEY BY NOT OFFERING A

LARGE NEW SALARY

You will also save money by not having to offer an

entirely new salary and benefits package to a

potential new hire.

Instead, when promoting an employee, you can

provide them with a raise.

This amount will almost certainly be less than the

cost of hiring someone new and having to offer

them a competitive salary.

INSTANT PERFORMANCE

You will likely see a higher quality of work right

away when promoting an employee from within

your company.

This is because they will already be familiar with

your company culture and the manner in which

tasks are completed.

Contrarily, this kind of performance level will have

to be developed over time if you opt for a new hire,

making for a difficult and less efficient transition

period as they learn the ropes.

INSTANT PERFORMANCE

This problem is more pronounced when the position in question is in a leadership position.

Leaders are expected to delegate tasks and are the ones questions are asked of by their team members. These things are a lot to ask of a new hire; adjusting to company culture, the new position, and leading others all at the same time is a tough task.

However, hiring from within often results in this process being easier. Additionally, your new leader will understand the nuances in the positions of the employees beneath them—because they were there once.

SO WHY WOULD YOU HIRE SOMEONE NEW?

Obviously, there are advantages to hiring new talent.

Hiring an employee from outside the company can inject

a fresh perspective into a team or company.

Also, you may need to reach outside of your company

walls to achieve a certain tier of talent. Plus, you may

need new lower-level employees after promoting

another from within.

However, the same downsides persist: this can cost

more money than a promotion would, it will take time,

and new employees will require a transition period to

adjust to a new job and company culture until they

effectively fit into your team.

WHAT TO DO?

In conclusion, it’s important that you make the

decision that is best for you business.

However, remember that in the long-term,

promoting your employees rather than hiring new

talent will benefit your company in more ways than

one.